Psychology of money by Morgan Housel

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The psychology of money book ko Morgan Housel nay lilha ha jo hmary psychological aur behavioural pehlo ko dikhatay hain k hum kis trah money management, wealth creation aur financial decision making ko behter bna saktay hain.

Is book kay main points ki summary kuch iss trah say batati ha

1.The importance of financial behavior:

Ya book btati ha ha financial success financial knowledge ya intelligence ka bjay financial behavior per depend krti ha.Book author Housel kehty hain ka financial decision k lye apny emotions ko understand and control krna chahye. Housel in mukhtalif financial behaviours jaisa ka saving,spending and investing kay baray main btatay hain.Auther kehty hain ka hmain apnay expenses ko kam kr k savings ko brhana chahye.

2.The power of compounding and patients:

Book author Housel long term investing aur compunding effect of money ko hilight krty hain.Book auther Housel hmain kehty hain ka small aur consistant investment jo kisi long period kay lye ki gaye tu hmain good results provide kr skti ha.Patience aur long term investment success k lye bahot zarori ha.

3.The role of luck and risk in financial outcomes:

Housel luck kay effect ko finacial outcomes main byan krty hain.Hamari investment main hmari choices and actions b effect krty hain.Mukhtalif external factors jaisa ka economic conditions aur unexpected events b important role play krty hain.luck kay role ko smajh kar hum apnay financial achievement main realistic behavior ko utilize kr skty hain.agar hmain luck kay bary main pta ho ga to hum overconfidence say bach sakty hain aur important risk management aur apnay portfolio main diversification b kr sakty hain.

4.The value of financial flexibility:

Book auther Housel hmain suggest krty hain k hmain financial flexibility k lye aik emergency fund rakhna chahye jis main hmari atleast six months ki salary save ki gyi ho.Aik emergency fund hmain security aur freedom provide krta ha.Is fund k zrye say hum unexpected circumstances main difficulties say bach sakty hain aur rising opportunities say b faida utha sakty hain.

5.The impact of personal experiences:

Auther Housel hamry personal experiences ko money k bary main btatay hain k kis trah hmary child hood behavior aur cultural influences hamary finacial believes aur behavior ko banaty hain .Aur jitna kaam age say hum money ki psychology ko smajh kr saving aur investing krain gay utna hi jaldi financial goals aur financial freedom hasil kr sakty hain.

Over all the book 'psychology of money' personal finance help kay behavioural aur psychological aspects ko byan krti ha.Jis k zrye say readers aur listeners money ka sath apnay relations ko behtar bna saktay hain.mukhtalif factors jo financial decisions ko bnatay hain unko samajh kar individuals wiser fiancial decisions k zrye great finacial success achieve kr skty hain.

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